Difference between revisions of "FM SFLP.Periodic Interest Rate Cap"
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== Definition == | == Definition == | ||
| − | <b>Periodic Interest Rate Cap</b> | + | <b>Periodic Interest Rate Cap</b>: For an adjustable-rate mortgage loan, the maximum percentage points the interest rate can adjust upward at each interest rate change date after the initial interest rate change date. |
== Notes == | == Notes == | ||
| − | Applicable to certain CIRT offerings. | + | * Applicable to certain CIRT offerings. |
| − | + | * The field belongs to the [[FM SFLP Template]] | |
| − | The field belongs to the [[FM SFLP Template]] | ||
== Field Characteristics == | == Field Characteristics == | ||
* FM SFLP Field Index: 97 | * FM SFLP Field Index: 97 | ||
| + | * Column Label: PERIODIC_RATE_CAP | ||
* Data Type: NUMERIC | * Data Type: NUMERIC | ||
* Data Maximum Length: 9(2).9999 | * Data Maximum Length: 9(2).9999 | ||
| + | * Temporal Classification: Performance | ||
| + | * Data Category: Loan | ||
| + | |||
| + | == Implementation == | ||
| + | * [https://github.com/open-risk/openNPL openNPL repository] | ||
| + | |||
| + | == Learn More == | ||
| + | * [https://www.openriskacademy.com/course/index.php?categoryid=37 Mortgage Modeling Courses] | ||
| + | |||
| + | == Discuss == | ||
| + | * [https://www.openriskcommons.org/c/academy/mortgage-modeling/35 Commons Mortgage Modeling Discussions] | ||
| + | * [https://www.openriskcommons.org/c/open-source/opennpl/13 Commons openNPL Discussions] | ||
== Disclaimer == | == Disclaimer == | ||
Latest revision as of 13:52, 17 May 2024
Contents
Definition
Periodic Interest Rate Cap: For an adjustable-rate mortgage loan, the maximum percentage points the interest rate can adjust upward at each interest rate change date after the initial interest rate change date.
Notes
- Applicable to certain CIRT offerings.
- The field belongs to the FM SFLP Template
Field Characteristics
- FM SFLP Field Index: 97
- Column Label: PERIODIC_RATE_CAP
- Data Type: NUMERIC
- Data Maximum Length: 9(2).9999
- Temporal Classification: Performance
- Data Category: Loan
Implementation
Learn More
Discuss
Disclaimer
This information is provided as is. Refer to the FM SFLP Template for pointers to definitive instructions about hte SFLP data templates
